French digital health insurtech Alan rakes up $45m in new funding round

By Verdict Staff February 21, 2019

French digital health insurance start-up Alan has raised €40m ($45m) in a Series B funding round led by Index Ventures and partners of DST Global.

The latest round, which takes the company’s total funding to €75m ($85m), follows the Series A round in April last in which the French startup raised around €23m ($26m).

French insurtech Alan intends to use the funds to boost its user base in France, with a focus on SMEs and freelancers.

The company is also planning to expand its team size to 175 by the end of this year.

The health insurance firm is looking to develop more consumer friendly health insurance product by using transparent pricing and reimbursement policies along with telemedicine services and care navigation tools like Alan Map.

It is also planning to target small and medium sized companies with its modern health insurance options that have been traditionally ignored.